Saved vy/ Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales Cost $300,000 581,000 19,000 Retail $291,000 928,000 31,000 5,000 910,000 Required: Determine the December 31, 2018, inventory by applying the conventional retail method. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus Purchases Freight-in Net markups 0 Less. Net markdowns Goods available for sale 0 0 Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost